Stocks fell Thursday, erasing an earlier gain as oil declined and a report showed that U.S. jobless claims unexpectedly increased, stoking concern that the recovery in the world’s largest economy is faltering.
Gazprom Neft dropped 1.1 percent, while Sberbank, the nation’s largest lender, decreased 1.6 percent. Potash producer Uralkali closed up 2.8 percent after reports said the government would not impose an export duty on the fertilizer.
The benchmark MICEX Index fell 0.2 percent to 1,414.65 in Moscow, after gaining as much as 0.8 percent.
Oil dropped 41 cents, or 0.5 percent, to $82.06 a barrel in New York. The number of Americans filing applications for unemployment insurance climbed to a three-month high last week, the Labor Department said, a day before its monthly unemployment report.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
